Western Australia’s commercial property market maintained steady momentum through the second quarter of FY 2025/26, with transaction activity across sales, leasing and asset management reflecting sustained demand for well-located, well-presented assets. Realmark Commercial’s Q2 Review highlights a market that remains competitive, particularly in sectors where supply continues to lag enquiry.
Industrial leasing conditions across Perth remained tight, with low vacancy prompting tenants to act decisively. This was clearly demonstrated at 47 Prindiville Drive, where Michael Tozer and Rob Dawson secured offers on four of the six units within a short timeframe, despite the project still being under construction. Retail leasing also performed strongly, particularly within neighbourhood centres and established strips. Retail leasing also performed strongly during the quarter, highlighted by Treeby Junction Shopping Centre led by Michael Richardson & Fletcher Wolpers, which achieved 95% pre-leasing 15 months ahead of opening, securing tenants before ground works are due to commence in early 2026. The early commitments reflect strong tenant confidence and sustained demand for well-located neighbourhood centres within growing catchments.
Sales activity during the quarter delivered several competitive outcomes across a range of asset types. 136 Burswood Road, Burswood was successfully sold for $1.4 million following a targeted campaign led by Daniel Mackley and Michael Tozer, generating five offers after earlier campaigns had struggled to gain traction. In Palmyra, 68 Petra Street achieved a sale price of $2.16 million after just 14 days on market, driven by strong enquiry, multiple group inspections and nine competing offers through a campaign led by Fletcher Wolpers. Meanwhile, strategic holdings in Kalamunda were transacted under the management of Mike Rowe, setting the foundations for a new precinct anchored by a McDonald’s and a WA-owned Superwash Carwash, highlighting continued investor appetite for sites with long-term development and income potential.
The quarter also saw continued emphasis on asset management, with a strong focus on operational stability and long-term asset integrity. Mixed-use precincts such as Victoria House in Shenton Park continue to benefit from proactive oversight, with Shannon McCabe leading the management from practical completion to ensure smooth operations while protecting heritage value. Across the broader portfolio, the asset management team, under the direction of Gemma Hayes, continues to support long-standing clients through strong relationships and disciplined management practices.
Collectively, the transactions and activity outlined in Realmark Commercial’s Q2 Review reflect a market that remains active and selective. Disciplined execution, early tenant engagement and collaboration across sales, leasing and asset management are continuing to underpin results, setting a stable and confident platform as Western Australia’s commercial property market moves into the second half of the financial year.